North Carolina General Statutes 57D-3-01. Admission of members; economic interest owners
(a) A person becomes a member through the following:
(1) In the case of a person executing the articles of organization in the capacity of a member as provided in N.C. Gen. Stat. § 57D-2-21(a)(2), or otherwise being named in the articles of organization as a member, at the time the articles of organization become effective under N.C. Gen. Stat. § 55D-13
Terms Used In North Carolina General Statutes 57D-3-01
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2) In the case of a person acquiring an ownership interest from the LLC, (i) upon being identified as a member by the organizers as provided in N.C. Gen. Stat. § 57D-2-20(c) or (ii) upon the unanimous approval of the members as provided in N.C. Gen. Stat. § 57D-3-03(2).
(3) In the case of an economic interest owner, in the manner provided in N.C. Gen. Stat. § 57D-5-04(a) or N.C. Gen. Stat. § 57D-6-01(3).
(4) In the case of an eligible entity converting or merging into the LLC, as provided in the plan of conversion or plan of merger upon such plan becoming effective as provided in N.C. Gen. Stat. § 57D-9-23(a)(5) or N.C. Gen. Stat. § 57D-9-43(a)(6).
(b) A person becomes an economic interest owner through the following:
(1) In the case of a person acquiring an economic interest from the LLC, upon the unanimous approval of the members.
(2) In the case of a person acquiring an economic interest or portion thereof from an interest owner, as provided in N.C. Gen. Stat. § 57D-5-02.
(3) In the case of an eligible entity converting or merging into the LLC, as provided in the plan of conversion or plan of merger upon such plan becoming effective as provided in N.C. Gen. Stat. § 57D-9-23(a)(5) or N.C. Gen. Stat. § 57D-9-43(a)(6).
(c) To be a member a person need not make or have the obligation to make any contributions to the LLC or share in any profits or losses of, or distributions from, the LLC or otherwise own an economic interest in the LLC. (2013-157, s. 2.)